If you are visually impaired or blind, you can visit the PDF version by Pressing CONTROL + ALT + 4
<br /> renew<br /> Our vision is to<br /> our<br /> Annual Report<br /> 2013 industry<br /> superior<br /> and provide<br /> sustainable<br /> solutions<br /> ncc 2013 iii<br /> NCC<br /> will drive<br /> renewal.<br /> Vision and values must be translated into tangible<br /> actions. We will develop new products, be a pioneer<br /> in applying new methods and use proprietary inno-<br /> vations, as well as those developed by others. By<br /> means of tangible actions, we will show that we have<br /> the ability and the desire to drive development in the<br /> industr y.”<br /> Peter Wågström<br /> President and CEO<br /> Contents<br /> Review by the President 2<br /> Strategic focus 6<br /> Market and competitors 10<br /> NCC’s geographical markets 12<br /> OPERATiOnS<br /> Industrial 14<br /> Construction and civil engineering 18<br /> Development 24<br /> SuSTAinAbiliTy REPORT<br /> Sustainab<a title="Annual Report 2013 page 1" href="http://viewer.zmags.com/publication/a1a09378?page=1"> renew Our vision is t</a> <a title="Annual Report 2013 page 2" href="http://viewer.zmags.com/publication/a1a09378?page=2"> ncc 2013 iii NCC will drive renewal. Vision </a> <a title="Annual Report 2013 page 3" href="http://viewer.zmags.com/publication/a1a09378?page=3"> Contents Review by the President 2 Strategic foc</a> <a title="Annual Report 2013 page 4" href="http://viewer.zmags.com/publication/a1a09378?page=4"> Profitable growth in three businesses </a> <a title="Annual Report 2013 page 5" href="http://viewer.zmags.com/publication/a1a09378?page=5"> NCC 2013 1 2013 in figures Orders received 56,97</a> <a title="Annual Report 2013 page 6" href="http://viewer.zmags.com/publication/a1a09378?page=6"> 2 NCC 2013 REvIEw by THE PRESIDE</a> <a title="Annual Report 2013 page 7" href="http://viewer.zmags.com/publication/a1a09378?page=7"> favorable but we encountered serious profitability</a> <a title="Annual Report 2013 page 8" href="http://viewer.zmags.com/publication/a1a09378?page=8"> 4 NCC 2013 REvIEw by THE PRESIDE</a> <a title="Annual Report 2013 page 9" href="http://viewer.zmags.com/publication/a1a09378?page=9"> office building, Copenhagen Port Company, Denmark </a> <a title="Annual Report 2013 page 10" href="http://viewer.zmags.com/publication/a1a09378?page=10"> 6 NCC 2013 STRATEgIC FOCuS Stra</a> <a title="Annual Report 2013 page 11" href="http://viewer.zmags.com/publication/a1a09378?page=11"> STRATEgIC FOCuS NCC 2013 7 NCC’</a> <a title="Annual Report 2013 page 12" href="http://viewer.zmags.com/publication/a1a09378?page=12"> 8 NCC 2013 STRATEgIC FOCuS S</a> <a title="Annual Report 2013 page 13" href="http://viewer.zmags.com/publication/a1a09378?page=13"> Growth targets and activities The target for the </a> <a title="Annual Report 2013 page 14" href="http://viewer.zmags.com/publication/a1a09378?page=14"> 10 NCC 2013 MARkET AND COMPETITORS</a> <a title="Annual Report 2013 page 15" href="http://viewer.zmags.com/publication/a1a09378?page=15"> IT and digital media IT is an effective support t</a> <a title="Annual Report 2013 page 16" href="http://viewer.zmags.com/publication/a1a09378?page=16"> 12 NCC 2013 NCC'S gEOgRAPHICAl MAR</a> <a title="Annual Report 2013 page 17" href="http://viewer.zmags.com/publication/a1a09378?page=17"> NCC IN fINlAND NCC in Finland focuses on resident</a> <a title="Annual Report 2013 page 18" href="http://viewer.zmags.com/publication/a1a09378?page=18"> 14 ncc 2013 operaTionS Industrial</a> <a title="Annual Report 2013 page 19" href="http://viewer.zmags.com/publication/a1a09378?page=19"> NCC’s industrial business is based on a distinct </a> <a title="Annual Report 2013 page 20" href="http://viewer.zmags.com/publication/a1a09378?page=20"> 16 ncc 2013 operaTionS Biodiver</a> <a title="Annual Report 2013 page 21" href="http://viewer.zmags.com/publication/a1a09378?page=21"> The energy requirements for asphalt production ar</a> <a title="Annual Report 2013 page 22" href="http://viewer.zmags.com/publication/a1a09378?page=22"> 18 ncc 2013 operaTionS Constructi</a> <a title="Annual Report 2013 page 23" href="http://viewer.zmags.com/publication/a1a09378?page=23"> All of NCC’s construction, from housing to infras</a> <a title="Annual Report 2013 page 24" href="http://viewer.zmags.com/publication/a1a09378?page=24"> 20 ncc 2013 operaTionS thoUSaND</a> <a title="Annual Report 2013 page 25" href="http://viewer.zmags.com/publication/a1a09378?page=25"> ing, purchasing and construction, and ultimately </a> <a title="Annual Report 2013 page 26" href="http://viewer.zmags.com/publication/a1a09378?page=26"> 22 ncc 2013 operaTionS manager </a> <a title="Annual Report 2013 page 27" href="http://viewer.zmags.com/publication/a1a09378?page=27"> Market and business environment isbjerget, housi</a> <a title="Annual Report 2013 page 28" href="http://viewer.zmags.com/publication/a1a09378?page=28"> 24 ncc 2013 operaTionS Development</a> <a title="Annual Report 2013 page 29" href="http://viewer.zmags.com/publication/a1a09378?page=29"> Housing 6,383 units in production Sales </a> <a title="Annual Report 2013 page 30" href="http://viewer.zmags.com/publication/a1a09378?page=30"> 26 ncc 2013 operaTionS </a> <a title="Annual Report 2013 page 31" href="http://viewer.zmags.com/publication/a1a09378?page=31"> higher energy-efficiency levels than required by l</a> <a title="Annual Report 2013 page 32" href="http://viewer.zmags.com/publication/a1a09378?page=32"> 28 ncc 2013 operaTionS offer m</a> <a title="Annual Report 2013 page 33" href="http://viewer.zmags.com/publication/a1a09378?page=33"> class certification level that only about 30 build</a> <a title="Annual Report 2013 page 34" href="http://viewer.zmags.com/publication/a1a09378?page=34"> 30 ncc 2013 SUSTAInABLE DEVELOPMEnT</a> <a title="Annual Report 2013 page 35" href="http://viewer.zmags.com/publication/a1a09378?page=35"> SUSTAInABLE DEVELOPMEnT ncc 2013 31 </a> <a title="Annual Report 2013 page 36" href="http://viewer.zmags.com/publication/a1a09378?page=36"> 32 ncc 2013 SUSTAInABLE DEVELOPMEn</a> <a title="Annual Report 2013 page 37" href="http://viewer.zmags.com/publication/a1a09378?page=37"> purchasing operations, and is ultimately aimed at</a> <a title="Annual Report 2013 page 38" href="http://viewer.zmags.com/publication/a1a09378?page=38"> 34 ncc 2013 SUSTAInABLE DEVELOPMEnT</a> <a title="Annual Report 2013 page 39" href="http://viewer.zmags.com/publication/a1a09378?page=39"> BROAD COMPETENCY DEVELOPMENT AND RESEARCH IN FOCU</a> <a title="Annual Report 2013 page 40" href="http://viewer.zmags.com/publication/a1a09378?page=40"> 36 ncc 2013 SUSTAInABLE DEVELOPMEn</a> <a title="Annual Report 2013 page 41" href="http://viewer.zmags.com/publication/a1a09378?page=41"> SUSTAInABLE DEVELOPMEnT ncc 2013 37 </a> <a title="Annual Report 2013 page 42" href="http://viewer.zmags.com/publication/a1a09378?page=42"> 38 ncc 2013 SUSTAInABLE DEVELOPMEnT</a> <a title="Annual Report 2013 page 43" href="http://viewer.zmags.com/publication/a1a09378?page=43"> HAZARDOUS SUBSTANCES TO BE REMOVED Work is contin</a> <a title="Annual Report 2013 page 44" href="http://viewer.zmags.com/publication/a1a09378?page=44"> 40 ncc 2013 SUSTAInABLE DEVELOPMEnT</a> <a title="Annual Report 2013 page 45" href="http://viewer.zmags.com/publication/a1a09378?page=45"> NCC also implements thorough market and customer-</a> <a title="Annual Report 2013 page 46" href="http://viewer.zmags.com/publication/a1a09378?page=46"> 42 ncc 2013 financial report </a> <a title="Annual Report 2013 page 47" href="http://viewer.zmags.com/publication/a1a09378?page=47"> other buildings segment. Changes in exchange rate</a> <a title="Annual Report 2013 page 48" href="http://viewer.zmags.com/publication/a1a09378?page=48"> 44 ncc 2013 financial report No</a> <a title="Annual Report 2013 page 49" href="http://viewer.zmags.com/publication/a1a09378?page=49"> In the wake of the Finnish asphalt cartel, which </a> <a title="Annual Report 2013 page 50" href="http://viewer.zmags.com/publication/a1a09378?page=50"> 46 ncc 2013 financial report </a> <a title="Annual Report 2013 page 51" href="http://viewer.zmags.com/publication/a1a09378?page=51"> financial report ncc 2013 47 Ris</a> <a title="Annual Report 2013 page 52" href="http://viewer.zmags.com/publication/a1a09378?page=52"> 48 ncc 2013 financial report S E</a> <a title="Annual Report 2013 page 53" href="http://viewer.zmags.com/publication/a1a09378?page=53"> as well as based on the outcome in relation to es</a> <a title="Annual Report 2013 page 54" href="http://viewer.zmags.com/publication/a1a09378?page=54"> 50 ncc 2013 financial report C</a> <a title="Annual Report 2013 page 55" href="http://viewer.zmags.com/publication/a1a09378?page=55"> NET SALES Net sales for the Group rose marginally</a> <a title="Annual Report 2013 page 56" href="http://viewer.zmags.com/publication/a1a09378?page=56"> 52 ncc 2013 financial report </a> <a title="Annual Report 2013 page 57" href="http://viewer.zmags.com/publication/a1a09378?page=57"> FIXED ASSETS Goodwill NCC impairment tests goodwi</a> <a title="Annual Report 2013 page 58" href="http://viewer.zmags.com/publication/a1a09378?page=58"> 54 ncc 2013 financial report P</a> <a title="Annual Report 2013 page 59" href="http://viewer.zmags.com/publication/a1a09378?page=59"> financial report ncc 2013 55 Par</a> <a title="Annual Report 2013 page 60" href="http://viewer.zmags.com/publication/a1a09378?page=60"> 56 ncc 2013 financial report C</a> <a title="Annual Report 2013 page 61" href="http://viewer.zmags.com/publication/a1a09378?page=61"> financial report ncc 2013 57 </a> <a title="Annual Report 2013 page 62" href="http://viewer.zmags.com/publication/a1a09378?page=62"> 58 ncc 2013 financial report C</a> <a title="Annual Report 2013 page 63" href="http://viewer.zmags.com/publication/a1a09378?page=63"> C A S H F L O W F R O M O P E R AT I N G A C T I </a> <a title="Annual Report 2013 page 64" href="http://viewer.zmags.com/publication/a1a09378?page=64"> 60 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 65" href="http://viewer.zmags.com/publication/a1a09378?page=65"> paRent CoMpany aCCoUnts CoMpaReD WIth ConsoLIDate</a> <a title="Annual Report 2013 page 66" href="http://viewer.zmags.com/publication/a1a09378?page=66"> 62 NCC 2013 FiNaNCial report p</a> <a title="Annual Report 2013 page 67" href="http://viewer.zmags.com/publication/a1a09378?page=67"> An impairment requirement arises when the recover</a> <a title="Annual Report 2013 page 68" href="http://viewer.zmags.com/publication/a1a09378?page=68"> 64 NCC 2013 FiNaNCial report Va</a> <a title="Annual Report 2013 page 69" href="http://viewer.zmags.com/publication/a1a09378?page=69"> gory. Holdings of shares and participations that </a> <a title="Annual Report 2013 page 70" href="http://viewer.zmags.com/publication/a1a09378?page=70"> 66 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 71" href="http://viewer.zmags.com/publication/a1a09378?page=71"> Valuation of properties classed as current assets</a> <a title="Annual Report 2013 page 72" href="http://viewer.zmags.com/publication/a1a09378?page=72"> 68 NCC 2013 FiNaNCial report NO</a> <a title="Annual Report 2013 page 73" href="http://viewer.zmags.com/publication/a1a09378?page=73"> FiNaNCial report NCC 2013 69 N</a> <a title="Annual Report 2013 page 74" href="http://viewer.zmags.com/publication/a1a09378?page=74"> 70 NCC 2013 FiNaNCial report N</a> <a title="Annual Report 2013 page 75" href="http://viewer.zmags.com/publication/a1a09378?page=75"> FiNaNCial report NCC 2013 71 N</a> <a title="Annual Report 2013 page 76" href="http://viewer.zmags.com/publication/a1a09378?page=76"> 72 NCC 2013 FiNaNCial report NO</a> <a title="Annual Report 2013 page 77" href="http://viewer.zmags.com/publication/a1a09378?page=77"> NOTE 11 InteRest expense anD sIMILaR InCoMe </a> <a title="Annual Report 2013 page 78" href="http://viewer.zmags.com/publication/a1a09378?page=78"> 74 NCC 2013 FiNaNCial report N</a> <a title="Annual Report 2013 page 79" href="http://viewer.zmags.com/publication/a1a09378?page=79"> FiNaNCial report NCC 2013 75 N</a> <a title="Annual Report 2013 page 80" href="http://viewer.zmags.com/publication/a1a09378?page=80"> 76 NCC 2013 FiNaNCial report N</a> <a title="Annual Report 2013 page 81" href="http://viewer.zmags.com/publication/a1a09378?page=81"> NOTE 17 paRtICIpatIonsIngRoUpCoMpanIes,Cont’D pa</a> <a title="Annual Report 2013 page 82" href="http://viewer.zmags.com/publication/a1a09378?page=82"> 78 NCC 2013 FiNaNCial report N</a> <a title="Annual Report 2013 page 83" href="http://viewer.zmags.com/publication/a1a09378?page=83"> FiNaNCial report NCC 2013 79 N</a> <a title="Annual Report 2013 page 84" href="http://viewer.zmags.com/publication/a1a09378?page=84"> 80 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 85" href="http://viewer.zmags.com/publication/a1a09378?page=85"> FiNaNCial report NCC 2013 81 N</a> <a title="Annual Report 2013 page 86" href="http://viewer.zmags.com/publication/a1a09378?page=86"> 82 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 87" href="http://viewer.zmags.com/publication/a1a09378?page=87"> Note 29 INTEREST-BEARING LIABILITIES GROUP 2012 </a> <a title="Annual Report 2013 page 88" href="http://viewer.zmags.com/publication/a1a09378?page=88"> 84 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 89" href="http://viewer.zmags.com/publication/a1a09378?page=89"> Note 31 PENSIONS, CONT’D. ACTUARIAL ASSUMPTIONS,</a> <a title="Annual Report 2013 page 90" href="http://viewer.zmags.com/publication/a1a09378?page=90"> 86 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 91" href="http://viewer.zmags.com/publication/a1a09378?page=91"> FiNaNCial report NCC 2013 87 N</a> <a title="Annual Report 2013 page 92" href="http://viewer.zmags.com/publication/a1a09378?page=92"> 88 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 93" href="http://viewer.zmags.com/publication/a1a09378?page=93"> FiNaNCial report NCC 2013 89 No</a> <a title="Annual Report 2013 page 94" href="http://viewer.zmags.com/publication/a1a09378?page=94"> 90 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 95" href="http://viewer.zmags.com/publication/a1a09378?page=95"> FiNaNCial report NCC 2013 91 N</a> <a title="Annual Report 2013 page 96" href="http://viewer.zmags.com/publication/a1a09378?page=96"> 92 NCC 2013 FiNaNCial report No</a> <a title="Annual Report 2013 page 97" href="http://viewer.zmags.com/publication/a1a09378?page=97"> FiNaNCial report NCC 2013 93 No</a> <a title="Annual Report 2013 page 98" href="http://viewer.zmags.com/publication/a1a09378?page=98"> 94 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 99" href="http://viewer.zmags.com/publication/a1a09378?page=99"> FiNaNCial report NCC 2013 95 </a> <a title="Annual Report 2013 page 100" href="http://viewer.zmags.com/publication/a1a09378?page=100"> 96 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 101" href="http://viewer.zmags.com/publication/a1a09378?page=101"> FiNaNCial report NCC 2013 97 </a> <a title="Annual Report 2013 page 102" href="http://viewer.zmags.com/publication/a1a09378?page=102"> 98 NCC 2013 FiNaNCial report </a> <a title="Annual Report 2013 page 103" href="http://viewer.zmags.com/publication/a1a09378?page=103"> FiNaNCial report NCC 2013 99 Q</a> <a title="Annual Report 2013 page 104" href="http://viewer.zmags.com/publication/a1a09378?page=104"> 100 ncc 2013 shareholder information </a> <a title="Annual Report 2013 page 105" href="http://viewer.zmags.com/publication/a1a09378?page=105"> shareholder information ncc 2013 101 </a> <a title="Annual Report 2013 page 106" href="http://viewer.zmags.com/publication/a1a09378?page=106"> 102 ncc 2013 shareholder information </a> <a title="Annual Report 2013 page 107" href="http://viewer.zmags.com/publication/a1a09378?page=107"> shareholder information ncc 2013 103 </a> <a title="Annual Report 2013 page 108" href="http://viewer.zmags.com/publication/a1a09378?page=108"> 104 ncc 2013 shareholder information </a> <a title="Annual Report 2013 page 109" href="http://viewer.zmags.com/publication/a1a09378?page=109"> RISK-ASSESSMENT AND RISK-MANAGEMENT NCC applies a</a> <a title="Annual Report 2013 page 110" href="http://viewer.zmags.com/publication/a1a09378?page=110"> 106 ncc 2013 shareholder information </a> <a title="Annual Report 2013 page 111" href="http://viewer.zmags.com/publication/a1a09378?page=111"> shareholder information ncc 2013 107 </a> <a title="Annual Report 2013 page 112" href="http://viewer.zmags.com/publication/a1a09378?page=112"> 108 ncc 2013 shareholder information </a> <a title="Annual Report 2013 page 113" href="http://viewer.zmags.com/publication/a1a09378?page=113"> shareholder information ncc 2013 109 </a> <a title="Annual Report 2013 page 114" href="http://viewer.zmags.com/publication/a1a09378?page=114"> 110 ncc 2013 shareholder information</a> <a title="Annual Report 2013 page 115" href="http://viewer.zmags.com/publication/a1a09378?page=115"> FIVE-YEAR TREND IN NCC SHARES 2009 2010 </a> <a title="Annual Report 2013 page 116" href="http://viewer.zmags.com/publication/a1a09378?page=116"> 112 ncc 2013 shareholder information</a> <a title="Annual Report 2013 page 117" href="http://viewer.zmags.com/publication/a1a09378?page=117"> Definitions/glossary FINANCIAL KEY FIGURES Average</a> <a title="Annual Report 2013 page 118" href="http://viewer.zmags.com/publication/a1a09378?page=118"> NCC is one of the leading construction and proper</a>